Obama is once again with the help of Sen. Reid, trying to shove something down our throats without taking the time to do it correctly.....Never forget Nancy Pelosi and her "pass it now so we can find out what is in the bill........." Obama demanded billions of dollars in bailouts intimating if he didn't get it the nation would fail......the people failed in allowing Obama and Washington, D.C. to bully them into paying off the Unions....where is the success of those bailouts today....anyone believe the AP or Obama? Most of what is coming out of Obama's office is pure BS....go after congress to stop spending and printing money!

“The wealthiest households” can more easily defer spending and shift income than the Obama administration can stop spending money on food stamps and Obamaphones. They won’t raise any significant amount of money doing this.

5
posted on 11/29/2012 2:46:23 PM PST
by Sooth2222
("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)

I’d say sequestration is pretty much a guaranteed thing at this point. Maybe not the best way of handling the mess but it’s the only acceptable point. What the President might not want to admit in public....it was Harry Reid who drafted the whole sequestration text.

To get to the real three points here. First, you have a tax system (70k pages) that is corrupted and needs total reform. Neither party will touch the topic though.

Second...the game of running a government ‘candy-store’ only works if you have a booming or positive economy. We haven’t exactly been in positive numbers for a few years (we don’t manufacture that much anymore in our own country).

Third and final...the media’s attempt to explain everything is like asking a drunk to explain nuclear fusion. You eventually realize that you have to ask a ton of questions to figure out what the facts are, and then ration yourself to a few trusted sources.

I’ve long wondered why it’s so dang important to Dems that the rich “pay their fair share,” “fair” being several orders of magnitude more than other classes, when we all know it’d barely dent the debt. Aside from how that’s just the way they talk and they don’t know any better, all I can come up with is that it’s a smokescreen for the fact that the largest class and the class whose votes everyone’s always wooing, the middle class, will inevitably end up paying for whatever we don’t default on.

I don’t mean the feds will raid their retirement funds, though probably they will. I mean most of it will be paid with the secret tax of inflation. So publicly going after Fat Cats makes it all the secreter.

I believe it is within the power of the Congress to ground Air Force One and limit presidential air travel until a plan to reduce spending is submitted. Obama should be grounded until the work is done.

Likewise, Congress can cut the money being spent on the Executive Office of the President (staff). By cutting the funds Congress could shut down or squeeze departments and agencies like EPA, Education,and even Obamacare itself.

Congress has the power to inflict great pain and embarrassment on a president that will not play ball. They can charge the president with dereliction of duty for not submitting a budget as required by law. The House can bring charges against the president. The Senate would have nothing to say (no vote) on bringing charges.

20
posted on 11/29/2012 3:35:41 PM PST
by Rapscallion
( OBAMA: You own it now. See if you can govern it.)

Interesting that the press is finally inserting a hint of honesty it “terms”. Up until now, “tax increases” for the rich were labeled “expiring Bush Tax Cuts”. Now, when the middle class might be involved, the White House is labeling those same “expiring Bush Tax cuts” as “tax increases” since they effect the middle class. The republicans have neither language skills nor the balls for this fight.

I think sequestration is the best thing. Once the economy stumbles and slows there will incredible pressure on the liberals to reduce marginal tax rates and broaden the base. The “tax the rich” argument is nonsense, but it plays well to the people.

The House Republicans must stand strong and refuse to raise the top ordinary income rate of 35%. That is the marginal rate paid by a lot of small business owners and raising that rate would definitely slow down economic growth and job growth. All reputable economists agree on that principle--the only question is how much a marginal tax increase slows down growth. Boehner and McConnell need to bring in some top conservative economists to help make that case for them publicly.

Democrats often bring up the Clinton administration and point to the strong economic growth in Clinton's second term despite higher tax rates at that time. What that economic history demonstrates is simply that marginal tax rates are not the ONLY key factor affecting economic growth. After the Clinton tax increase, economic growth was slow and steady in Clinton's first term, mainly because of very strong demographics in America at that time. The mid-point of the Baby Boom generation turned 29 years old in 1993, the first year of the Clinton Adminstration. During the next eight years almost all the Boomers moved into their 30s and early 40s, which are the years when people buy the most big-ticket items, such as houses, appliances, furniture, and motor vehicles. Strong demographics kept growth going in Clinton's first term, despite the tax increases, and then our economy got a big break in Clinton's second term: the rapid initial build-out of the commercial internet occurred in Cinton's second term. The growth of the internet, combined with strong demographics, was powerful enough to overpower the economic drag from higher tax rates. But today we are an older country with much weaker demographics, and the internet has been almost completely built out in America and is no longer a big source of economic growth. There's no Big New Thing on the horizon to spark economic growth. So today we can't afford the economic drag from higher marginal tax rates on business owners. The democrats need to get their economics straight and stop using politically-oriented polling to determine their tax policy. Raising marginal rates on business owners and top professionals is a really bad idea for our economy today. We're already growing very slowly and higher marginal tax rates on business owners will only slow our economy even more.

Here's what I suggest the House Republicans offer in this deficit-reduction deal--Keep the top rate on ordinary income at 35% and then offer to: 1) Limit total itemized deductions to $100K for everyone, regardless of how much mortgage interest people are paying, 2) Raise the top rate on dividend income to 19% from 15% on income above $500K (with the Obamacare tax added in that takes the total rate to about 23% on income above 500k), 3) Increase the rate on the lowest bracket to the rate for the second lowest bracket for people earning more than $500K, 4) As a final offer, bump up the rate on long-term capital gains and carried interest on private equity investments from 15% to 17% (before Obamacare taxes). I would make that offer and say: that's all you get and additional revenue has to be generated through stronger economic growth.

Score that proposal, see how much increased revenue it generates, and then make sure you get spending cuts equal to that amount. Start by cutting the vast Obamacare bureaucracy that I've read about--which reportedly has a planned workforce of 150,000 government employees, IN ADDITION to all the people who already work in health care administration in the health insurance companies. That 150,000, if correct, is absolutely mind-boggling. They couldn't possibly need more than 8,000 people, using good information systems, to administer the entire Obamcare law (in addition to the people already working for health insurance companies).

I don’t think Obama/Reid/Pelosi have any intention of cutting entitlement spending for the 47% ever. They intend to cut spending that they perceive as beneficial to Republican supporters. The United States are no longer united. Democrats have killed the union.

34
posted on 11/29/2012 4:47:51 PM PST
by af_vet_1981
(The bus came by and I got on, That's when it all began,)

I agree with everything you said about Congress (the House) grounding 0dumb0's travel especially his freguent (weekly) boon doggles, etc., etc.

Now if only the Pubbies had the balls of a one-celled organism, it might work. However the Pubblies will never do it. They (especially the Pubbie leadership) are scared SHITLESS of 0dumb0 & the demoRATs.

Let the country go down the crapper is what I say! Bring it on! Fiscal cliff, go for it! Rioting in the streets, hilarious (especially when the blacks burn down their own neighborhoods) Vigilante squads to patrol our neighborhoods, sounds great, sign me up!

Well, I know lots of places are losing police protection and the sort, I often said that maybe we need volunteer police departments. Me, I'd buy a 1965 Ford Galaxie and/or 1968 Mercury park Lane (like McGarrett from Hawaii Five-O), shove in a VHF/UHF and/or CB radio, carry a .38 revolver and off we go. B-)

I would not mind a 1967/68 Chrysler made car like in "Adam-12" or perhaps a 1969 Plymouth like the Penna State police used.

40
posted on 11/29/2012 8:51:51 PM PST
by Nowhere Man
(It is about time we re-enact Normandy, at the shores of the Potomac.)

White House press secretary Jay Carney said Thursday there will be no deficit deal unless Republicans agree to raise tax rates on the wealthiest households.

And the response should be, "There will be no deficit deal until Democrats offer up spending cuts and the spending cut bill is passed into law. Democrats have broken promise after promise and proved they cannot be trusted to do what they say they will do. In order to ensure a bipartisan solution, Democrats must act first."

I would like to see a tax increase for everyone who voted for and supported the Kenyan gangsta and his nightmare for America. It’s time those freeloading bass turds started paying THEIR “fair share”. This should be a “starting point” for Republicans.

I would like to see a tax increase for everyone who voted for and supported the Kenyan gangsta and his nightmare for America. Its time those freeloading bass turds started paying THEIR fair share. This should be a starting point for Republicans.

Congress ran in 2010 saying they would defund obamacare. Of course, they didn’t defund it. But apparently they have the power otherwise the dems and their media would have screamed constantly that “They’re lying! They can’t defund it!”

You want the federal monster to keep my money that was withheld in excess of my tax liability? I thought the idea was to lower tax rates, but you want to increase effective tax rates. Now, if you mean, no 'refundable' tax credits that 'refund' money in excess to the amount paid, I can jump on board with that.

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